News that significantly influenced David Jones shares price
On 31st January, the merger proposal offered by Myer became public. It was good news to David Jones shares price, as the investors believe if the merger could finally completed, it means the two large domestic rival department will combine with each other, which means operation expense, payment to suppliers and other expense would to cut down. Also, the combination will help these two rival departments to lock their customers. Both of these factors would make either Myer or David Jones more profitable compared with before. On 24th February 2014, there was a piece of news about the David Jones agreed to talk with Myer about the merge details. It was a sigh that David Jones could be open to the merger proposal provided by Myer. And these two pieces of information also reflected on the shares price of David Jones. Overall, the share price increased during the February and the beginning of March, the closing share price was $2.99 per share on 31th January and eventually reached $3.41 per share on 7th of March. Our share transactions during February and March are guided by this information, which bought share in 5th February and held until 5th of March.
Another piece of news is on 9th April, the David Jones board was recommending a $4 per share takeover offer from South Africa's Woolworths. It means David Jones would be finally taken over by Woolworth. On the other hand, Woolworth was willing to pay $4 cash for every